A federal grand jury in Bowling Green, Ky., has indicted 33-year-old Shaun Schneider of Beaver Dam, Ky,, on two counts of knowingly executing a scheme to defraud a financial institution.
Schneider, owner and operator of Schneider Consulting LLC, is accused of falsifying records to get a $7 million loan from JP Morgan Chase Bank in May of last year, and a $3 million loan from Fifth Third Bank in December of last year.
He still owes $8.5 million of the $10 million he borrowed.
Schneider is scheduled to appear for his arraignment Sept. 21, 2006, in Owensboro, Ky.
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